Clothing retailer retailer Postie Plus has reported sales of NZ$23.5 million for the first quarter of 2004, compared to sales of NZ$20.5m in the year-before period.  Same-store sales in the period decreased by 1 per cent, the company said.

Postie attributed the net sales increase to its branch expansion. However, it admitted that sales were below expectations.

It added that other factors affecting poor same-store sales were an unfavourable retail environment and price deflation.